Govt assures investors of decent investment climate

The investors met with the state minister for Cooperatives, Fredrick Ngobi Gume at Speke Resort Hotel on November 12. PHOTO/MOSES NDHAYE 

What you need to know:

  • The investors are opting to venture into the timber industry and will specifically be based in Kasese District.

The state minister for Cooperatives, Fredrick Ngobi Gume, has assured Hungarian investors that Uganda is a safe and secure country to invest in.

Mr Gume made the remarks while meeting the investors at Speke Resort Munyonyo. The Hungarian delegation was led by the Hungarian Ambassador in Uganda, Dr Janos Terenyi.

The minister stressed that Uganda is ''one of the most peaceful countries in the East African region and Africa at large.'' 

The investors are opting to venture into the timber industry and will specifically be based in Kasese District.

''This is one of the most interesting areas of processing timber because it has abundant raw materials that can be processed into timber and its products,'' Mr Gume noted. 

The investors promised to add value to the timber.

“Hungary deals in timber processing and with the expertise, the prospecting investors will do wonders in the sector,'' Dr Terenyi echoed.

Mr Lukas Balaza from Monfalcone revealed that the Hungarian government has always had an idea of developing Uganda.

''Some of the investors have already purchased land in Kasese and therefore the process will not take long ‘' he disclosed.


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